Teladoc Health (NYSE:TDOC) Sees Strong Trading Volume Following Analyst Upgrade

Shares of Teladoc Health, Inc. (NYSE:TDOC) saw strong trading volume on Wednesday after The Goldman Sachs Group raised their price target on the stock from $14.00 to $16.00. The Goldman Sachs Group currently has a buy rating on the stock. 14,679,102 shares traded hands during mid-day trading, an increase of 115% from the previous session’s volume of 6,820,760 shares.The stock last traded at $13.17 and had previously closed at $13.11.

Several other brokerages have also commented on TDOC. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price objective (up previously from $11.00) on shares of Teladoc Health in a research report on Wednesday, December 4th. Oppenheimer lowered their price target on shares of Teladoc Health from $14.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, January 24th. Bank of America increased their price objective on Teladoc Health from $11.50 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Barclays boosted their target price on Teladoc Health from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Teladoc Health from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Teladoc Health currently has a consensus rating of “Hold” and a consensus target price of $12.18.

Insiders Place Their Bets

In other news, insider Carlos Nueno sold 2,389 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $11.93, for a total transaction of $28,500.77. Following the transaction, the insider now directly owns 2,890 shares of the company’s stock, valued at approximately $34,477.70. The trade was a 45.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Arizona State Retirement System grew its stake in Teladoc Health by 1.8% in the fourth quarter. Arizona State Retirement System now owns 49,691 shares of the health services provider’s stock worth $452,000 after purchasing an additional 859 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Teladoc Health by 9.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 12,456 shares of the health services provider’s stock worth $113,000 after buying an additional 1,089 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Teladoc Health by 0.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 228,700 shares of the health services provider’s stock worth $2,079,000 after acquiring an additional 1,200 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Teladoc Health by 8.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 18,009 shares of the health services provider’s stock worth $164,000 after acquiring an additional 1,331 shares in the last quarter. Finally, Vise Technologies Inc. lifted its position in Teladoc Health by 4.9% during the 4th quarter. Vise Technologies Inc. now owns 30,179 shares of the health services provider’s stock valued at $274,000 after acquiring an additional 1,405 shares during the period. Institutional investors own 76.82% of the company’s stock.

Teladoc Health Price Performance

The firm has a market cap of $2.31 billion, a P/E ratio of -2.32 and a beta of 1.05. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.73 and a quick ratio of 1.69. The firm’s 50 day moving average is $10.41 and its 200 day moving average is $9.35.

About Teladoc Health

Teladoc Health, Inc provides virtual healthcare services worldwide. The company operates through Teladoc Health Integrated Care and BetterHelp segments. The Integrated Care segment offers virtual medical services, including general medical, expert medical, specialty medical, chronic condition management, and mental health, as well as enabling technologies and enterprise telehealth solutions for hospitals and health systems.